APAC M&A activity in Q1 2022 retreated from 2021’s highs, especially in terms of overall deal values. Total deal value for the quarter ended at $73.8B, a decline of 44% QoQ, or 18% YoY. Average deal size also declined versus previous quarters, leading to downsized deal values even though overall deal count remained fairly consistent at 103 deals vs 119 in Q4 2021.